After a double-digit increase in holiday season sales, Target announced it will be distributing $500 bonuses to its hourly team members.
This marks the fifth round of bonuses that the mega-retailer has announced since the start of the coronavirus pandemic. This time around, money from a $200 million bonus pool will be distributed to 375,000 team members, including seasonal employees who worked during an unprecedented holiday season. Store directors and others in leadership positions will be receiving bonuses ranging between $1,000 and $2,000.
“Over the last year, this team has stepped up in remarkable ways,” said Target Chairman and CEO Brian Cornell in a video that ran on Bullseye View, a Target site that publishes company news. “Our teams have stepped up again and again, despite the challenges, to serve our guests and to serve America. And for that, I can only say thank you.”
The video was also posted to Twitter:
We're saying thank you to 375,000 of our frontline team members with a $500 bonus in the new year. Learn more: https://t.co/wR9brQctxS pic.twitter.com/xjRntg1Uiq
— Target (@Target) January 25, 2021
As customers were hunkered down at home during the holiday season this year, Target saw comparable sales rise 17.2% in November and December compared to the previous year’s sales. This increase came despite a decision to shut down on Thanksgiving, which traditionally has drawn crowds of early Black Friday shoppers seeking deals. Target noted the increase in sales was driven largely by sales in the home department and hardline goods (i.e. things like electronics, appliances and sporting goods).
Retailers for much of the past year have been awarding bonuses to store employees who have continued to work during the pandemic. For instance, Walmart, to date, has awarded four rounds of bonuses, with the last one distributed to employees on Christmas Eve. Full-time hourly employees received $300 and part-time and temporary workers got $150.
In early November, and ahead of the holiday season, Target doled out $200 bonuses to its hourly team members. The retailer in July also raised its minimum wage to $15 for all U.S. employees.
Target also said it will be extending its coronavirus-related employee benefits in 2021, with free virtual doctor visits for all team members, 30-day paid leave for vulnerable team members, mental health support through free counseling sessions and more. There’s no word yet on more bonuses, but the retailer has been awarding them consistently throughout the pandemic.
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